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Thread: National Bureau of Merchant Services???

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    Default National Bureau of Merchant Services???

    Anyone heard of them? I got a cold call a few days ago offering their services to "cut out the middleman" and process our Visa & MasterCard transactions directly through them. Apparently we were one of "all businesses that qualify," meaning we have an excellent chargeback and fraud transactions history.

    They claim it would save us 20-50% in fees because of their direct relationship with Visa/MC. Instead of transmitting transactions in three steps, 1) to a MSP 3rd Party, 2) to the processor and 3) to the Visa/MC clearing house for deposit to our bank, I could skip the 1st step.

    First off, I don't know what "MSP" means. It sounds to me like they become the 3rd party and don't see how they eliminate anyone here. Maybe I'm just misunderstanding this.

    I asked for the info send to me. Even reading that I'm not sure what I should be asking to see if this is really a advantage to me. Any advice is appreciated. Here is a link to their site.

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    I've never heard of this organization. It sounds like they're trying to be another Better Business Bureau or something. There isn't a lot about them on Google, and I don't think I've ever seen a business that carries their logo.

    My first instinct says be wary, but I don't have anything to base that on other than instinct.

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    I've never heard of them and based on the way their site looks I wouldn't trust them. They deal with credit cards yet couldn't afford to spend anything on their site? Strikes me as a little fishy. I'd also be wary of a company like this that's soliciting your business and there really isn't any information on their site about what they're actually doing.

    MSP stands for merchant service provider. They aren't eliminating that step they're becoming your merchant service provider if you sign up. What they might be eliminating is the processor, but something tells me they aren't. I think all they're trying to do is become your new MSP.
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    Thanks, Kristine and vangogh. That's what I was thinking too. Their fax is i the recycling bin.

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    Thumbs up national bureau of merchant services

    i was also looking up this company and see that you have put on there the wrong site. Merchant service bureau and the national bureau of merchant services are 2 different companies. So far I have seen nothing but great reports on the national bureau of merchant services. I contacted the BBB and MSB and they reported to me that they have no complaints in a 18 month period and only 1 in 36 months. Sounds pretty good to me. Have you done any other research on them??? The deal is way too good to pass, I just want to make sure in case you know anything else. Otherwise bbb and others say good.

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    Vangooh,
    Thanks for the message. After research with BBB and their website they are actuall the processor. I like that. The thing is I signed up with National Bankcard a long time ago and it turns out that they are not a processor they use someone else to process their cards. The guy I signed the contract with was no where to be found. I had to deal with another company. This is the second time it happened. I had Bank of America account who I went and did processing using NPC their company. It turned out that they ended up selling the company and I had to deal now with a seperate company. These guys seem like I deal with them all around. I like that.

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    Sounds like a standard sales pitch to me.
    Every processor has a "relationship" with MC/Visa, and I've never heard of one processing company getting preferential treatment over another.
    The only difference is in their fees and customer service.

    Never trust anyone that calls you out of the blue, that you have never heard of and tells you that you "qualify" for something. That pitch is as old as time itself.

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    Post Thanks for the advice

    I am just so sick and tired of paying such high prices. Plus my rates just went up and I'm paying some pci fee. Do these people not know that we are hurting.
    As for this company, a couple of people in our association use these guys and they come recommended. They said that they are really good. So I am hoping that's true. So far so good. Personally Visa and those others are all crooks its just so hard to find the right people. Since these guys are recommended and have a pretty good record I'm doing it. Thanks for the advice.

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    Since you mentioned the site linked to here wasn't them, do you have a link for their real website. Based on the one linked to above I wouldn't trust this company at all.
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    I am sure that i am a bit late to the discussion.
    There are a few points to keep in mind when looking at merchant processing. 1. Your going to pay the same interchange rates no matter who you process with!! The cost difference is in how the processing entity bills for their services. ie: tiered pricing where you see Qualified, Mid Qualified or non qualified or interchange plus. just two examples. 2. You can have a direct impact on the cost of processing! 3. A majority of the fees paid for a transaction come from the issuing bank of the CREDIT card.
    Keep in mind that if anyone ever tells you "i can do your processing for 1.9% and $.10 per transaction" they are telling you something that is impossible to do. What happens when you accept a corporate data rate 1 card that costs them 2.82% and .10 to process? Are they going to eat the loss in revenue? I doubt it..

    Remember if it seems to good it probably is...

    Tim

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